New and beginning dairy producers have challenges in building equity and developing strategies for sound succession plans. Dairy farm businesses are capital intensive, and an aging dairy farm owner population means that transition of these operations will be critical in the future. Focus groups with both senior farm owners and new dairy producers were used to better understand these challenges and to enable Extension professionals to create educational opportunities to meet the needs of new and beginning dairy producers. Keys for success that were identified included sound financial planning and purchasing animals as a strategy to grow equity.
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Holden, L. A., Hyde, J. A., Hilty, B. J., & Cowan, E. (2011). Challenges and Opportunities for New and Beginning Dairy Producers: A Pennsylvania Perspective. The Journal of Extension, 49(3), Article 17. https://doi.org/10.34068/joe.49.03.17